Refer to the annual financial statements of Shoppers Drug Mart for its fiscal year ended December 31, 2011, found in Appendix 5B.
(a) Review Shoppers Drug Mart's balance sheet. Identify all financial investments that are reported. You may need to read the notes to the financial statements to get the necessary details.
(b) Does Shoppers Drug Mart have any investments in subsidiary companies? Does it own 100% of all its subsidiaries? Can you tell this by looking at the balance sheet? At the income statement? What information is disclosed about these subsidiaries?
(c) Did Shoppers acquire any companies during the year? Explain the process you undertook to
determine the answer to this question.

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